Yes, it provides you with the assistance in finally summarizing the financial situation you are facing at the moment but all the debt consolidation calculator can offer you are purely estimations. The results created are often utilized for the evaluation of the most probable outputs of consolidating certain debts as they are geared towards an equity loan. 4) Repeat the cycle - After you have paid off your smallest debt, use the money you have budgeted for the minimum payments to pay off the next debt on your list. This means that the next debt will be accorded the following amounts: a) The minimum payment for the debt b) The minimum payment for the previous debt c) The extra amount that you can afford As you can see, the budgeted amount for each debt increases as each debt is paid off. There are a lot of strategies for debt elimination which you can opt for. Included are debt consolidation, debt management, debt settlement, debt negotiation, debt counseling, and a lot others. The most popular and legal debt elimination technique is by procuring debt consolidation loans. The payment for very overdue loans will obviously require you to pay for a large interest fee. When you've found valuable items which you think will be a good gift idea for someone, grab the chance especially if they are up for sale. In due time, you will see the same items with the price almost tripled. Sacrifice for once in the use of your credit cards. It must be a rule posed to yourself that credit cards must only be for emergencies. If you declare bankruptcy, that declaration will stay with you in your future. This would dissuade customers from doing business with you. Thus, your future chances in the same industry are killed. 2) Payment - Of course, one reason for business debt elimination can be payment. This happens rarely in companies. 2) Expertise - A good debt elimination program should be developed by people who know what they are doing. You need a debt elimination program that is formulated by experts. Before you try out the debt elimination program, you need assurances that the program will be able to help you manage your finances.